Results of the review of the first phase of implementation on the CIS of regulations related to sustainability

The CNMV has published a report on the results of the review of the first phase of the implementation of sustainability regulations for CIS. The report covers the first phase of the implementation of regulations on sustainability and the publication of information on sustainable investments by investment funds, which took effect in March 2021.
The report provides an overview of the information published by the investment funds on their sustainable investments and the methodologies used to assess and report on their investments‘ sustainability. It highlights the importance of providing detailed and transparent information on the performance of sustainability indicators and ratings, and the need to ensure consistency between the information provided to investors and the actual composition of the fund’s portfolio.
The CNMV has also announced its participation in the Common Supervisory Action on sustainability in UCITS and AIF led by the ESMA (eventid=19264), which will investigate how fund managers comply with the SFDR and its delegated regulations, as well as the modifications to the UCITS and AIFMD level 2 regulations concerning the integration of sustainability risks.
The report concludes that the CNMV will continue to monitor the implementation of sustainability regulations by investment funds and management companies, with a focus on ensuring that the information provided to investors is clear, accurate, and consistent with the actual composition of the fund’s portfolio. The CNMV will also work with other European regulators to ensure a coordinated approach to the implementation of sustainability regulations and promote the transition to a more sustainable economy.